News Links

Friday, March 30, 2012

Republicans Stealing the Postal Workers' Pension

The Republican-controlled House of Representatives is working a bill to "modernize" the postal service. For more information on the postal service modernization bill, please continue reading across the jump.The postal service modernization bill is H.R. 2309 and it is titled "Postal Reform Act of 2011. The bill is sponsored by Darrell Issa (R-California).

Overall the bill will reduce another service that benefits mainly middle- and working-class Americans. The bill will reduce the number of days on which mail will be delivered. After reducing the number of delivery days and the unionized postal workforce -- less days, less workers -- then the bill proposes to raid the postal workers' pension fund.

The raid on the pension fund is an idea right out of the playbook of private equity and hedge funds. Perhaps, we should ask GOP presidential wannabe, Mitt Romney, about raiding workers' pension funds. Mitt Romney seems to have had a plethora of experience raiding workers' pensions; see here.

Now, after the workers' pension fund is raided, Rep. Issa will continue with his postal service modernization efforts by reducing the health and life insurance benefits of the postal workers. However, the postal workers shouldn't worry about getting health care insurance. According to the justices of the Subprime Court of the United States (also know as the U.S. Supreme Court), purchasing health care insurance will be as easy as buying broccoli florets in your nearest grocery store. Yes indeed.

If you wish to return to life in these United States circa 1880, then you will find much more to like in Rep. Issa's postal service modernization bill (and in the new Republican budget).

For more about Rep. Issa's bill to modernize the postal service, you can go here (pdf) and here.

Remember, the Republicans first came for the private workers' pensions, then they came for the state, county and municipal workers' pensions, now they are coming for the postal workers' pension. Next will be the government civilian workers' pensions (in progress) and then the military service members' pension. But who's keeping track?